MARKET TALK: N Sea Crude: Total Main Bidder, Buys Cargo

1645 GMT 4 July [Dow Jones] North Sea Forties crude differentials are stronger as a strike in Norway and healthy refining margins continue to attract buyers to the market, traders say. Mercuria sells cargo F0710 loading Jul 17-19 to Total at Dated +25c. Total also bids for a cargo loading Jul 21-25 and a Jul 26-30 cargo at Dated +30c, while Morgan Stanley bids for a cargo loading Jul 22-27 at Dated +25c. However, the three bids find no sellers. Meanwhile, Phibro offers a cargo loading Jul 22-24 at September BFOE +45c, but there are no takers. As there’s still plenty of oil around, there’s unlikely to be much upside from the Dated +30c level, one trader says.

  • Konstantin Rozhnov, Dow Jones Newswires